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Money Laundering to Remain a Significant Challenge with Spike in Online Crime
Senior officers of Garda have indicated the rapidly rising problem of money laundering as the big...
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Paramount and Forever 21 Data Breach Exposes Thousands of Customer’s Personal Details
The significant media house Paramount Global and the renowned fashion supplier, Forever 21, have ...
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Travel to Restart as Several Countries Roll out Their Version of Vaccine Passports
Japan is planning on introducing a vaccine passport to make travelling easy for people. Internati...
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14 Arrested in Money-Laundering Crackdown, Over HK$300 Million Seized
Hong Kong police carried out a crackdown on money laundering groups, 14 arrested and HK$300 milli...
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European Parliament Members Adopt New Recommendations to fight Tax Fraud and Money Laundering
The parliament members adopted a comprehensive set of regulations stemming from the previous reco...
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Philippines’ Anti-Money Laundering Counsel Increases AML Measures for Casino Junkets
The Philippines’ Anti-Money Laundering Counsel (AMLC) has stated that it is currently impro...
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Hong Kong Arrests 13 in HK$53 million Money Laundering Case
13 people in Hong Kong have been arrested for money laundering and operating illegal gambling sit...
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NSW Make Reforms to Counter Money Laundering and Gambling
The New South Wales government embraces new reforms to counter the issue of money laundering and ...
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Experts Warn that Scammers are Exploiting EU Users on Meta’s Threads
Meta’s Threads app has become the newest platform for cyber scammers to commit identity theft, cr...
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FATF Issues Guidance for AML/CFT Digitization of FIUs
FATF published a report in collaboration with the Egmont group discussing why and how FIUs should...
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UK Watchdog Fines Al Rayan Bank 4M Pounds Over AML Control Failures
FCA, Britain’s financial watchdog, revealed on Wednesday, 11th Jan 2023 that it had imposed...
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G-20 impels countries to adopt tough FATF Regulations on Cryptocurrencies
Bankers and finance ministers in the G-20 (Group of Twenty) are urging for greater acceptance of ...
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BSP Seeks to Tighten Rules on Reporting ML/TF Threats
The Bangko Sentral ng Pilipinas (BSP) is seeking to tighten guidelines on reporting threats relat...
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US Regulators Worried about the Rise in Synthetic Identity Fraud
Synthetic identity fraud, a financial crime in the USA, is on the rise. This has concerned the Un...
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OCC Warns Federal Banking System of Crypto & Cybersecurity Risks
The OCC has warned the federal banking associations, branches and agencies on crypto-asset and cy...
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Canada’s Anti-Money Laundering Crackdown Gets Support From Coalition
The Canadian government has swiftly responded to a call for action from an alliance of organizati...
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eCommerce Lost £16 Million in Frauds During Lockdown
The UK’s national reporting centre for fraud and cybercrime has revealed new figures which show £...
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UK Fraud Agency Warns Money Launderers are Targeting Under-21s
Cifas recently reported an economic downturn allows fraudsters to target young people, under 21, ...
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Saudi Bank Warns Citizens Against Financial Fraud Schemes Circulating via Fake News Websites
The Saudi Ministry of Commerce is reiterating warnings about fake news websites looting people by...
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MFSA Tightens Financial Regulations for Lawyers, Auditors, and Accountants
Professionals in Malta, lawyers, accountants, and auditors, etc. are resisting the new rules that...
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Ontarians Lost More than $118M to ‘Grandparent Scam’ in 2022, Reports
‘Grandparent scam’ cost Ontario residents more than $118 million. Scammers call elderly people an...
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UK Fraud Agency Warns Money Launderers are Targeting Under-21s
Cifas recently reported an economic downturn allows fraudsters to target young people, under 21, ...
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Insurance and Pension Sector in Zimbabwe Progressing in Anti-Money Laundering Efforts
Both sectors in Zimbabwe are prone to money laundering, and the first target of the authorities i...
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AUSTRAC Warns Banks Against Closing Accounts of Crypto Traders
AUSTRAC shows full support for the Australian crypto industry and is issuing warnings to banks ag...
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RSA Revamps Digital Payments with Industry-centric Regulations
The federal bank in South Africa re-regulated guidelines for performing card transactions between...
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Blue Star Planet to Pay £620,000 for AML Failures Uncovered by Gambling Commission
Blue Star Planet which was trading as 10Bet to pay £620,000 ($746,716) after it was found guilty ...
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EUR 27 Million Worth Crypto Assets Seized by the NCA in Money Laundering Crackdown
NCA seizes crypto assets worth £27m last year in a major money laundering crackdown
Although inst...
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Türkiye Removed From Gray List, India Recognized for Its AML Efforts, and Kuwait Urged to Have Better Money Laundering Control Measures: FATF Updates
On Friday, an international financial watchdog committed to securing the global economic system a...
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Criminal Group in KSA Jailed 24 Years Over Money Laundering Offence
Criminals in Saudi Arabia sentenced to 25 years imprisonment after getting caught in money launde...
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Despite KYC, Dutch Central Bank Struggles over Crypto Ownership Records
Despite the strict measures for KYC requirements, the Central Bank of the Netherlands is still mu...
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Albania Fails to Take Strict AML/CFT Measures
According to MONEYVAL, Albania has failed to take the necessary steps to improve measures on figh...
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Online Gaming Used by Criminals to Groom Minors into Drug Mules
Criminal networks are now applying the use of online video game, Fortnite, to groom minors around...
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Swedbank Estonia Reports High-Risk Client for Laundering $2 Billion
Swedbank Estonia labeled one of its clients a “high-risk” company due to suspicious transactions ...
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Regulators in Hong Kong Urge Banks to Accept Cryptocurrencies
Hong Kong banks are worried about regulatory repercussions for their crypto clients if money laun...
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Bank of Lithuania Revokes License of UK Payments Firm for AML Failures
Transactive Systems Ltd., which processed more than €1 billion of payments every month, has had i...
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Nigeria’s Senate Passes Bill to Tighten Money Laundering Rules
Nigeria’s Senate has passed a bill that is aimed at improving the country’s money laundering regu...
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Nigeria, Myanmar, and Türkiye Take Effective Steps to Meet FATF Recommendations
Myanmar, Nigeria, and Türkiye are implementing effective measures to level up anti-money launderi...
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Nigerian Crypto Firms Adopts KYC Measures to Comply with CBN’s Directives
The Nigerian crypto exchanges have started complying with the directives provided by the Central ...
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Namibia Enhances its National Crypto Strategy with New Legislation
Namibia raises the bar with new legislation in the National Crypto Strategy to combat crypto scam...
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$8M seized, Four Arrested for Money Laundering Activities Across Sydney
The Sydney law enforcement authorities seized more than $8 million in cash and arrested four crim...
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Officials of 16 Countries Teamed Up for a Major Transnational Operation against Money Laundering
On October 15, Europol announced its successful operation against a renowned criminal group calle...
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Homeland Security Takes Back Its Plans of Facial Recognition for US Citizens
The Department of Homeland Security (DHS) is taking back its decision to implement a policy that ...
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Crypto Bill Approved by the US Congress Set to Revamp Digital Asset Securities
The US Congress presented comprehensive legislation for the crypto market to redefine workflows a...
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FATF issues new guidance on Digital Identity systems
A guidance paper has been issued by the Financial Action Task Force (FATF) to assist governments,...
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UAE Issues $1.048 Billion Worth of Fines for Money Laundering & Terrorism Financing
UAE’s Executive Office to Combat Money Laundering and Terrorist Financing has claimed to collect ...
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ACMA Introduces New Policies to Combat SIM-Swapping Scams at Telcos
New policies have been introduced by ACMA to prevent SIM-Swapping attack for Telcos to protect us...
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AUD 10 Billion Money Laundering Ring Caught in Australia, Further Highlighting the Country’s AML Failures
AUD 10 billion ($6.5 billion) in global money laundering was allegedly uncovered in Sydney by the...
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2021 to Set New Record for Most Data Breaches in a Year
Studies have shown a staggering 1,291 data breaches till the end of September this year, exceedin...
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Netflix users targetted by scammers during COVID-19 outbreak
According to a security company, Scammers are increasingly using the likeness of online streaming...
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Cayman Island Businesses Urged to Maintain Beneficial Ownership Information
Cayman companies are urged to maintain beneficial ownership information in accordance with intern...
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Largest Banking Cooperation in Columbia Busted for Violating Anti-money Laundering Regulations
Banco de Occidente, Columbia’s largest banking cooperation Grupo Aval owned by one of the richest...
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Online Gaming Company Fined €386,000 for AML Failings
Online Amusement Solution Limited, a gaming company, was fined more than €386,000 by the FIAU for...
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FINMA Allows Chip Scanning and Geolocation for Digital Customer Onboarding
The FINMA now enables the scanning of microchips inserted in biometric ID documents as an element...
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Wells Fargo Hit With $37M Fine Over Forex Fraud
Improper financial handling, defrauding others, and taking advantage of customers has become a no...
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Singapore offers $70M to aid the fintech industry during COVID-19
Singapore has allocated SG$125 million ($70.89 million) to assist its financial services industry...
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Japan’s regulator verifies 2 new digital currency alliances
Financial regulators in Japan have approved two organizations to act as digital currency associat...
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Skyrocketing NFT Sales Raise Concerns for Tax, Law Enforcement
Last month, the sales for a digital art piece was surprisingly high and raised many questions for...
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US Treasury Official Urges Iraq’s Central Bank to Act Against Money Laundering
The US Treasury officials stated Iraq’s central bank should design new measures to combat the mis...
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Binance Fined $3.4 million by Dutch Central Bank For Violating Regulatory Laws
The De Nederlandsche Bank (DNB) fined Binance with $3.4 million for failing to get regulatory ap...
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Hong Kong Looking to Legitimize Crypto Trading for Retail Investors
The government of Hong Kong has been looking at whether to legitimize crypto trading for retail i...
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China’s Law Enforcement Authorities Issue Warning Against NFTs to Curb Financial Crimes
China’s three major banking regulators have issued a warning against non-fungible tokens (NFTs) w...
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Turkey’s Regulatory Authorities Oblige Rigid Crypto Licensing Measures
Turkey’s Regulatory Authorities stated they will develop rigid regulations for crypto service pla...
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FCA Puts its Foot Down Against Money laundering in Banking Sector
Financial Conduct Authority, FCA, is taking action against money laundering in the banking and fi...
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MEPs Disclose Plans To Crack Down On Money Laundering – AMLA Reports
The civil liberties and economic affairs committees discussed the plan to establish an EU Authori...
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IRS Highlights Potential Risk of Fraud in NFTs and Cryptocurrencies
IRS highlights Non-Fungible Token (NFTs) and crypto as the potential risk of financial crimes, in...
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Guyana Strengthens Judicial Officers Ability to Combat Financial Crime
Guyana’s government started asset recovery training for the judicial officers to boost their capa...
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US Imposes First-Ever Sanctions on Bitcoin Mixer for Money Laundering
The US Treasury recently announced that it has imposed the first-ever sanctions on a bitcoin mixe...
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Saudi Arabia Uncovers Massive Fraud worth SR11.5 Billion
Law enforcement authorities in Saudi Arabia arrested at least 32 suspects including businessmen, ...
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Ukraine Passes Anti-Money Laundering Law based on FATF
The Government of Ukraine has passed the final version of a money laundering law based on the gui...
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EMLCU Reviews Egypts Efforts to Fight Financial Crime
Chairman of EMLCU (Egyptian Money Laundering and Terrorist Financing Combating Unit) Ahmed Saeed ...
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COVID Vaccine Certificate Fraud Leads to Suspension of GGD Employees
A 20-year-old man arrested for being a part of Covid-19 certificate fraud. Many GGD employees are...
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“Beneficial Ownership Data Must be Structured, Centralised and Accessible”, Says GCFFC
According to the paper issued by the GCFFC, data must be structured, centrally collated, interope...
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